Rhumbline Advisers lowered its stake in Lakeland Financial Corporation (NASDAQ:LKFN) by 2.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 40,907 shares of the financial services provider’s stock after selling 899 shares during the quarter. Rhumbline Advisers owned 0.16% of Lakeland Financial Corporation worth $1,877,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in LKFN. Vanguard Group Inc. lifted its holdings in Lakeland Financial Corporation by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 1,055,655 shares of the financial services provider’s stock valued at $45,519,000 after purchasing an additional 35,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lakeland Financial Corporation by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock valued at $43,992,000 after purchasing an additional 28,198 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Lakeland Financial Corporation by 0.8% in the 1st quarter. Victory Capital Management Inc. now owns 911,935 shares of the financial services provider’s stock valued at $39,323,000 after purchasing an additional 7,209 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Lakeland Financial Corporation by 12.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 806,256 shares of the financial services provider’s stock valued at $34,766,000 after purchasing an additional 89,271 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC lifted its holdings in Lakeland Financial Corporation by 2.7% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 583,598 shares of the financial services provider’s stock valued at $25,165,000 after purchasing an additional 15,506 shares in the last quarter. 69.31% of the stock is currently owned by hedge funds and other institutional investors.

In other Lakeland Financial Corporation news, insider Batty Jill A. De sold 800 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $43.31, for a total value of $34,648.00. Following the sale, the insider now owns 8,132 shares of the company’s stock, valued at $352,196.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Scott Welch bought 5,557 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average cost of $41.83 per share, for a total transaction of $232,449.31. Following the acquisition, the director now directly owns 112,148 shares of the company’s stock, valued at approximately $4,691,150.84. The disclosure for this purchase can be found here. In the last three months, insiders acquired 10,500 shares of company stock worth $442,138 and sold 3,149 shares worth $142,334. 5.00% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: “Lakeland Financial Corporation (LKFN) Shares Sold by Rhumbline Advisers” was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.dailypolitical.com/2017/09/17/lakeland-financial-corporation-lkfn-shares-sold-by-rhumbline-advisers.html.

A number of research analysts have weighed in on the company. BidaskClub lowered Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Tuesday, June 27th. Finally, ValuEngine upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $47.00.

Lakeland Financial Corporation (NASDAQ:LKFN) opened at 44.34 on Friday. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 19.88 and a beta of 0.84. The firm has a 50-day moving average price of $44.30 and a 200-day moving average price of $44.58. Lakeland Financial Corporation has a one year low of $33.98 and a one year high of $48.88.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $42.61 million for the quarter, compared to analyst estimates of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. On average, equities analysts predict that Lakeland Financial Corporation will post $2.37 earnings per share for the current year.

Lakeland Financial Corporation Company Profile

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.

Institutional Ownership by Quarter for Lakeland Financial Corporation (NASDAQ:LKFN)

Receive News & Ratings for Lakeland Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.